For each of the following, indicate which curve in the AS/AD model shifts (initially), and in which

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For each of the following, indicate which curve in the AS/AD model shifts (initially), and in which direction(s):

a. A beneficial supply shock

b. An increase in government spending

c. A monetary contraction designed to lower the long-run inflation rate

d. An increase in taxes

e. An adverse supply shock

f. A fall in people’s expectations of inflation g. A decrease in consumer confidence

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